Novartis AG raised its outlook for the year after profit beat estimates in the first quarter, driven by medicines for breast cancer, multiple sclerosis and psoriasis.

Novartis predicted that core operating profit would grow by a low double-digit percentage, with sales increasing at a high-single digit pace. In January it gave a broader growth band. Core operating income rose 23% to $5.58 billion, the Swiss drugmaker said Tuesday, exceeding analysts’ estimates.

Novartis is seeking growth from new therapies as it faces patent expiration and competition from cheaper generics later this year for key drugs including its top-selling heart medicine Entresto. The aging portfolio is a test for Chief Executive Officer Vas Narasimhan, who spent years narrowing the company’s focus to innovative medicines in specific types of diseases.

Last year, Narasimhan raised Novartis’s forecast repeatedly after issuing what investors viewed as cautious initial guidance.

Novartis pledged earlier this month to invest $23 billion in the US over the next five years, part of an effort to sidestep President Donald Trump’s threatened tariffs on medicines.